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tv   The Journal Editorial Report  FOX News  October 27, 2012 8:00pm-9:00pm PDT

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>> this week on "the journal editorial report." with just ten days left the presidential candidates do the swing state sprint. polls tighten amid a new narrative mitt romney's momentum may not be real. and the president taking credit for positive economic aiders. and what will january's looming tax increases do to those signs of life? and a measure on the ballot in michigan could hand unions their biggest victory in years. will they make collective bargaining a constitutional right? >> welcome to "the journal editorial report." wifeless than two weeks to go, president obama and mitt romney hit the campaign trail in florida, ohio, wisconsin, colorado, and virginia.
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polls continue to show the race in a dead heat nationally, and too close to call, in no fewer than ten swing states but the obama campaign and its media allies are questioning whether mitt romney's recent momentum is real. joining the panel his week, dan henning gary, james freeman, dorothy rabinowitz and kim strassel. kim, tell us how real the romney surge is. >> look, paul, i know two weeks is one side increasing its advantage in both the national polls and the swing state polls. that's romney. we have seen money flowing into that side. that's romney. we have seen him improve his performance in independents and womens. you can call it what you want and the media contends it isn't momentum but i bet the president's campaign is wishing
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they that that momentum. >> to that point, yes, the obama campaign wishes it had some of that momentum because i tell you what really going on. the president is flatlining. >> i think he hit a ceiling for two reasons. his approval rating hit a ceiling as far back as april. this president has been around 47 or 48% all through the year. there's no lift to the obama presidency, and now that he and romney have come together in both the national and these tight swing state polls you see no lift at all in the obama camp pain, -- campaign. >> here's the argue. they make. he is still ahead in ohio and wisconsin, still ahead in what they call their fire wall. and even if you give romney all the swing states that they think they're going to win -- virginia, north carolina, florida -- that still only gets him to 248.
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throw the colorado, 257 electoral votes, needs 2 70 to win. >> couple things about the firewall. you have to question, is obama really ahead in ohio when everyone seems to acknowledge romney's big advantage among independents? this is true of a bunch of swing states. there's a question about who is really ahead. but the other issue is, this is a well-known incumbent late in the race. he is probably persuaded most of the people he is going persuade and his campaign speeches are telling you that. it's a fiercely partisan ideological message he is driving. he is not talking to independents. >> let's get a clip of that. we want to give you an illustration of what james just pointed out. >> not a five point plan by governor romney, one-point plan. folks at the top get to play by their own rules pay lower tax rates than you do. outsource more jobs, let wall
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street run wild, and if this plan sounds familiar, it's because we tried it. governor romney knows this. he knows this plan isn't any different than the policies that led to the great recession. so, in the final weeks of his election, he is counting on you forgetting. what he stands for. he is hoping that you, too will come down with a case of what we like to call romnesia. >> romnesia. i've got it, you've got it. what do you think of that? >> well, what are we looking at here? we have to acknowledge the presid angry man. that has been there evidently since that debate. all along -- >> always been such a cool customer. that's been his great appeal to so many people. helped him in 2008 against john mccain, who seemed so frenetic with the financial crisis. obama, mr. cool, mr. laid back.
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looks like he is calm in a crisis. you're saying this is a different obama we're seeing? >> yes. when the sun is shining, reality is different. what happened is that we heard the mantra for a long time now. we always knew this would be a close race. well, maybe his handlers did but obama never did. you have to believe inside. now came denver. he began to understand, this is reality. he is in danger of losing, and everything that supported him, all of that sense of vast crowds, imagine what happened yesterday in colorado. i you took a look admit mitt's immense crowds, that evehicled the same tremendous passion that obama had, only it was mitt romney. so you have this enraged president. and it comes out he can't stop, just as biden cannot stop, you cannot stop behaving inappropriately. >> dan. >> the president's campaign but out a 20-page pamphlet.
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>> a big part of this week, saying, i do have an agenda, responding to the romney criticism that he doesn't for the second term. >> exactly. and senior democrats have been saying that because romney put out this substantive economic plan, the president actually has to begin defining his own. he goes on this stump and does he talk about senate no. he does what we just saw on speech after speech. i honestly think that barack obama harbors some deep personal animosity toward mitt romney. he can't stop doing that even as his advisers say go in another direction. >> kim, what's the strategy here that the obama campaign is working? >> well, it's what they have been doing all along. it's class warfare, it's fear. the argue. has always been for obama, things are not necessarily as great as he would like them but we're making progress, and trust me, the other guy will be much, much worse. so it's the argument of stick with the devil you know rather than the one you don't, and that's what you're going to be hearing in the swing states, going to be playing off a
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certain fear and the economic anxiety that people feel today. trying to make them worry about what would come with a romney presidency. >> dorothy, what about the argument we hear from our friends on the left, this is romney's now surging because it's moderate mitt disavowed his pass. >> these are desperation tactics. this is not tactics. obama can't help it. his has been destabilized and making errors. those people are out there, it's the last resort to say, it's not real. you have it everywhere now, and i think it will do no good. facts are not going to be changing. >> moderate mitt changed? >> i think what -- part of the success of the first debate, the big romney victory, he finally to the delight of conservatives and free market fans, made an argument for economic freedom and talked about the difference between the real economy that mitt romney participated in and
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succeeded in and the solyndra economy of president where you fund favored enterprises. >> when we come back president obama revamps his stump speech, taking credit for recent positive signs in the economy. but is our outlook that rosy? our panel takes a closer look next. ooooooooooif we want to ime our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this.
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after losing nine million jobs in the great recession, our businesses have now add more than five million jobs over the past two and a half years, manufacturing is at its highest level since the '90s, unemployment has fallen to hit lowest level since i took office. home sales are rising, asemi lines are humming again. >> that as president obama in iowa, touting an economic turn-around he was saying that was just getting started. the economy is growing at a sluggish 2% and weak corporate earnings leading to one of the
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biggest dow selloffs of the year, we're back with dan henninger, and dan freeman, and mary anastasia o'grady. >> steve, happy days are here again? >> yeah. hardly. the problem with the speech that president barack obama showed is nobody really believes that, paul, and these new numbers on gdp show that this is an economy that is still suffering from what i call chronic fatigue syndrome. just isn't picking up the way normal recovery would. and what we're seeing in the gdp numbers, we're also seeing it in the jobs numbers. this is a recovery, if we can use that word, that's about half the pace of a normal recovery, and that's the reason you still have four million fewer workers today with jobs than you did in 2007. this is a really lousy recovery.
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>> but, mary, we're seeing some ac segue racing from -- acceleration. fears of a recession seem at least for now to be put aside. so, 2% is not great, but on the other hand it's something. >> well, it tells you something that 2% makes you feel like spiking the football because the expectations at this point are so low. but there are a lot of other signals that are coming that suggest that the 2% is not just some kind of short-term malaise. looking forward, you have business investment that is very weak. >> very weak. >> you have, for example, mexican exports to the u.s. were stagnant for the last two months, and that tells you something about demand in the u.s. you do have some pickup in consumer confidence -- >> that's -- where is that coming from? coming from housey, where ben bernanke is shoveling all the money -- >> chairman of the federal reserve. >> right, into the credit markets and creating money to
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try to keep interest rates low. that helps housing but that's not a recovery. >> you think the buoyancy is related to the artificial stimulus easy money. >> it's gone into the stock market and helped pump up the stock market since the beginning of the year to the peak this year, up over 16%. that makes people people good. >> home owner james freeman you love housing recovery, but it seems to be here. the president was talking about it. you see housing markets flat and up. >> there's some people out there saying maybe we're not out of the weeds on housing. you mentioned the slow growth economy. this is a political question now, whether the president can get people to accept a new normal of slow slower growth, less opportunity. the other story is the
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resiliency of american business, and this is maybe a positive sign if we gate change in policy direction in washington. they've really adapted well to this environment. very challenging the last few years. but the problem now is you need the topline growth, increases in sales. they're not getting them. so it's a question of how much more can they cut. >> corporations really stripped down they're expenses and squeeze profits out of the last couple of years, but as james says, if you can't grow revenue after a certain point you can't grow profits. >> that's right. dow chemical just announced they're going to lay off 2,400 people. that's a lot of layoffs, a lot of people getting fired, banks are doing the same thing. i think steve raised a good point. recovery. the recession ended the middle of 2009. three years later are we still supposed to be talking bat recovery? we should be talking about a normal economy. the post war growth rate for the united states economy is about 3% or a little bit better. a point below that is not going
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to create an economy that creates jobs for all those people who stopped looking for work. and i think there really is a serious question of whether obama's new normal is in fact a 2% economy, given the fiscal policies that he has put in place and will be pursuing in a second term. >> dan, let me add something to that. something interesting in the report. we're just getting preliminary glimpses and this is just a snapshot. it appears that in guess what sector is starting to pick up? government. the government appears to be -- that one of the fastest growing sectors of the economy. that's not where i think americans want to see the growth. one other quick point. paul over the last two years the sector of the economy created the most jobs has been the oil and gas industry. the very industry that barack obama has been trying to hold back. >> now he is saying, i'm all in favor of that. i'm a big backer of that. which if that happened in a second term would be a good
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thing. >> well, if we have a bubble in energy prices, you know, that great job creator may not be there. >> natural gas is no bubble because the supply is so enormous. take your point on gasoline otherwise. well, president obama may be touting an economic turn-around, but will whatever progress we have made come to a halt in january with that so-called tax cliff looming. americans are set to face a this is awesome! folks who save hundreds of dollars switching to geico sure are happy. i'd say happier than a slinky on an escalator. get happy. get geico. melons!!! oh yeah!! well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how happy, ronny? happier than gallagher at a farmers' market. get happy. get geico.
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>> well, president obama may be touting economic progress in his push for re-election but making no mention of what else comes with the second term. a whopping $500 billion in tax increases. just part of what's in store for january if the president's
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policies take us over the so-called fiscal cliff. so, james, really, one of the biggest tax increases since 1980 facing us. >> huge. >> if, under current law, nothing is done. we have a list of these tax increases. >> the lowlights. >> yes. expiration of the bush cuts, a lot of the tax increase. the personal income tax brackets which are now going to pop up again, taxes on investment, a lot of of the obamacare taxes, 22 billion starts this year. that includes the new tax on investment there. >> 3.8% on people who make above $200,000, and medical devices, one of the most -- a real growth industry. >> i mean, that's one of those that you can't figure out how that became law but it did and we have to live with it. i want to emphasize, we get idea to talking about ten-year plans. this is in 2013, 500 billion --
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you're talking about a tax increase of over 3% of gdp. so this is a massive blow to the economy that is going to happen unless congress acts or we get a new president with a new direction. >> steve, you talked to a lot of people in the business community. how are they reacting to this prospect? is this affecting the chance we could go over this tax? is it affecting their investment decisions? >> no question about it. trepidation, the two tax increases that trouble me the most as an economiess, the capital gain tax goes from 24 to 60%. what kind of taxes are those? direct tacks on business investment. we talked about how businesses are retracting in terms of investment. i can't think of a worse thing to do to the economy right now than taxes on business investment because that's really lagging in the economy.
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saving and investment are building blocks of the economy, it's hard to see how the economy is going to grow with the big tax sledge hammer in january. >> here's how to the president would respond. the taxes are on rich people. they can tolerate it. no big deal, and i get in. i'll work, i will sit down with republicans republicans republican eliminate the tax increases on people under $200,000 a year, and those are the real drivers of the economy because they spend money. as long as we take that portion of the tax increase off the table, the other tax increases, no sweat, will not hurt the economy. >> you just described barack obama's view of the economy. but -- >> i think i did it fairly. >> but one of the big problems is that people who are these so-called rich people are people who use their excess capital to employ other people. so, it will impact the job creation in the country. the other thing that seems like he really doesn't understand is
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that, first of all, 200,000 didn't an individual earning 200,000 is not -- whenever he talk about the millionaires and billionaires. >> two earning couples and a lot of high cost states don't feel rich. >> that's the middle class family, and a lot of people own stocks in their pension accounts so those people are very middle class people and they're going to get hit with the taxes. >> the important point to stress, dan, is unless congress acts and the president signs it, whether the president is mitt romney or barack obama, these tax increases are going to take place. so something has to give or we all jump off that cliff together. >> not only do we all jump off. it's interesting the way we talk about this as the -- as though it was one country. it's $500 billion of capital being taken out of the country and sent to the federal government's budget. the tax foundation has taken a look at the effect this is going to have on the states, and the
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wealthiest, biggest producing states, california, new york, texas, and florida, are going to be the biggest revenue losers because of that money being taken from them and sent to washington. and you have a state like california where the governor is trying to engineer a tax increase on top of that. how this cannot have a depresssive effect on the economy is hard to see. >> i think we also know the super wealthy know how to work the tax system. so unless there's fundamental tax reform that gets rid of a lot of the loopholes and tax advantages, someone who is very wealthy can use, you're not going to collect those revenues. more of the same with basically middle income class people getting hit. >> which of the tax increases won't take place if mitt romney is elected? >> romney said he doesn't want the big hikes on income or investment. >> going to repeal obamacare. >> also saying he wants tax reform to bring down the corporate rate to something
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roughly competitive with the world. i think the hope is that you would probably see if romney is elected, a postponement of the big fiscal decisions. the tax increase would not hit january 1. >> would not hit right away. >> big tax choice in this election. coming up in the second half hour, with just ten days to go, the presidential race could come down to a small group of voters in a small group of states. here's why all eyes should be on suburbia, president obama says the military cut set for january won't happen, and weren't his idea in the first place, but will voters in virginia and other defense states buy what he is selling come election day? >> a measure on the ballot in michigan seeks to enshrine collective bargaining rightness the state's constitution and
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we'll have the latest on hurricane sand i and what forecasters are calling a perfect storm. it could collide with two winteriry system medicine night or tuesday. the country could get 50 miles per hour winds. it is blamed for 50 deaths in the caribbean. local officials arerging people to get in away from the storm surge. there are storm watches. and state of america declared. president obama will cancel events and return to washington to continue to monitor sandy. back to the journal editorial report. >> welcome would to journal --
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"the journal editorial report." aisle paul gigot. the election focuses on a mall group of key states but not the states either campaign or the political pundits might have expected. wisconsin, pennsylvania, and michigan, all of which president obama carried by double digits in 2008. my guess this week says mitt romney may have suburban voters to thank. michael, great to have you back. >> it's go to be with you again, paul. >> where do you think this race stands right now? is romney surging as much as the polls appear to make it seem? >> yeah. i think romney is ahead in the race in the national race. i think he is within striking distance of the 270 eelectoral votes he needs, and the areas of the country where he made the greatest gains, when you compare him with the showing of john mccain tw 2008, appears to be
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a affluent suburbs. once upon a time affluent suburbs were solid republican territory, george h.w. bush in 1988 got big margins and carried states like michigan, ohio, california, in the four suburban counties outside philadelphia, he got 61% of the vote. zeroed out the democratic margin in the city of philadelphia. if you look at over the last 20 years, there's been a democratic trend in the affluent suburbs, and so president barack obama carried those four counties in pennsylvania with 57% of the vote if he carried the state. mitt romney grew up in bloomfield hills. >> a suburb of detroit. >> well, i grew up in the same area, went to the same high school so i'm quite familiar with it. he seems to be doing better. i if you look at the battleground poll -- the pew research poll where you have a
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big sample. so if you have a subsample you have some confidence the numbers are good. you see that romney, post-october 3rd debate, is carrying apparently statistically significant margins. people with incomes over over $75,000. barack obama carried them 15-49 in 2008. romney made bigger gains with the high income people than people in the lower income category. >> the swing over the last 20 years in affluent suburbs has been attributed to culture, gay marriage and the southern tilt of the republican party, is the swing back this year really because of the economy trumping culture in the minds of most voters? >> well, i think that's true of all segments of voters. the economy is trumping the cultural issue of. it rubbed them out. i think also mitt romney is more the kind of candidate that people in affront -- affluent
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suburbs cotton to. he is from the suburbs himself. he won the republican nomination in affluent areas and shown himself to be more articulate than president obama, the supposedly great orator. people in affluent suburbs like people who are articulate, who use words good, as i like to put it, and that is an advantage that mitt romney has and that he demonstrated to great effect there, and i think -- i wrote earlier in the washington examiner that romney was a kin dread spirit to many aflute people. politically awkward on some occasion. he is able to make a sharp point but is polite and is conservative on the cultural issues. has an attitude that reminds me of the inscription on the tombstone of an english woman
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which noted she was religious without enthusiasm. >> well, what's this democratic argument you're hearing now, that says, okay, all of that might be true, but republicans have no chance at michigan and pennsylvania anyway. and, look, in ohio, which the republicans have to win, romney has to win, where barack obama is still leading, still leading wisconsin and iowa and nevada. that is his fire wall, and unless romney can break through that he won't win the election. >> his fire wall used to include florida and virginia and they're not talking about that as fire wall states anymore with romney ahead in florida. the very fact that michigan and pennsylvania, which obama carried by 16 points and 10 points four years ago -- have gotten close i think has to be an indication that the affluent suburbs, oakland, macomb, livingston in michigan, have been moving towards romney in a
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significant way, and i think that the democrats are giving you static analysis there. and i think there may be a dynamic at work here. the affluent suburbs are places that people generally tend to turn out in large numbers, and we've seen signs that republicans have more enthusiasm this year. i think one reason ohio is closer is that affluent suburban counties are only an eighth of the statewide votes and a warsmer michigan. >> the romney campaign is saying they're making major investment in ohio, time and money. are they making -- taking a gamble by making a bet on ohio, that if they lose, they will not have fought or invested a lot of money or time in michigan and pennsylvania, which they might win? are they making a long bet on ohio? >> well, i think they're probably making a correct bet on ohio. ohio is 18 electoral votes are important to them. if i was them, i would be going
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up on the philadelphia and detroit media markets or at least being serious consideration it to because those get the bulk of the affluent suburbs in the states. you felt -- i'd be going up with ads geared to that population. >> all right. michael, thanks thanks so much e being here. still ahead. billions of dollars in defense cuts set to kick in come january. president obama said on monday the so-called sequester will not happen and wasn't his idea in the first place. we'll check the facts and tell you why it could matter in some key states on election day.
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first one it was the white house idea. >> how do we know that? >> a book heavily sourced in the white house says gene brought it forward last year. the republicans didn't understand and it it took a couple days for them to figure out what is was. across the board cut. >> republicans right there cat quick. >> the second whopper is the defense budget for 2013 cuts the budget in nominal terms for the first time since then 90s. they reduced defense consistently for the last four years. the one federal program that has clearly not liked. >> i thought it was a totally politicized statement. he said it will not happen was aimed for virginia and new hampshire, two states with big defense plants and industries. secondly, blaming congress by way of saying if it happens, virginia and new hampshire, it's going to be congress' fault. and mat is exactly right.
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if -- it was the white house that brought it to congress and it was meant to be a sort of sword of dam close held -- dam ma close held over the republicans and they didn't blink. >> he wants to pressure a tax increase or defense cuts and the thinks, understandably, -- he hopes they'll go for a tax -- democrats were willing to risk some domestic spending cuts. so, kim, how is this playing on the campaign trail? mitt romney is trying to make hay with this defense issue in states like virginia, new hampshire, and ohio. >> and that is unfortunate for the president and they have been worried about that, which is why the administration was advising defense companies not to send out legally required layoff notices which were due to hit before the election because they werewide bet the fallout in places like virginia, new hampshire, north carolina has a
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big defense industry. and you're seeing mitt romney now running ads, talking about the sequester, laying this back on the white house's lap. you're seeing senate candidates, like george allen, hitting this very hard and this is not necessarily helping the white house on at the trail right now. >> you think this is a winner for romney. >> to the extent it has morphed into a jobs argue. there's the national security argument which does appeal to some, that the president is not doing some to stop the defense cuts and also the jobs argument this is going to hurt those who work in the defense sector. >> matt, how much real damage would there be to the defense of the united states in 2013 if the defense cuts hit? there's a lot of people who argue, defense department has a lot of bloat, if we're going to cut domestic spending, shouldn't the pentagon take a hit, too? >> well, only can'ts to are fifth of federal spending. take half of the reductions in
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the sequester and the previous budget plans as well. the problem is the pentagon -- bob gates was the previous pentagon chief said you need 2% growth to fix the ships. >> the increased in the cost of living. >> and they have over the last decade we have been involved in wars in afghanistan and iraq. a lot of tanks and ships haven't been maintained in that time. we're also the only superpower in the world so it's true the u.s. does spend more than the next ten countries combined but we also are asked to do a lot more than anyone else. >> dan? >> well, i think for years the democratic party looked as the defense budget the big rock candy mountain. a lot of money to transfer to domestic spending. the president keeps saying the money spent on iraq and afghanistan is going to be reprogrammed into domestic investment. and that i think is what they would like to do down the road but the rest -- much of the rest of the defendant budget. >> although the republicans may
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be talking this. s into a catastrophe increase because if they say it's going to do damage to at the troops, what choice do you have? so there's going to be some tough decisions. up next, we go to michigan and the battle to reign in big labor, a measure on the ballot could give unions unprecedented new power.
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well, it's down to the wire in michigan, where an expensive battle is being waged or a union backed ballot measure that would enshrine collective bargaining rights in the state constitution and stop right to work
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legislation. michigan would be the first state to constitutionally guarantee the right to unions. so, colin, you've been following this michigan debate. what would this measure mean for the state of michigan in termed of union rights? >> paul, this is an unbelievable union power grab. you basically have to understand about what's going on is it would essentially give the unions in michigan a pocket veto on any legislation involving anything that could be remotely connected to collective bargaining. they already looked at this and the michigan attorney general said this would not only affect future laws and could overturn as many as 170 laws on the books. so this would be endlessly litigated and gives union bosses more authority than the
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legislature. >> so, what kind of laws would be -- that have been passed that most people in michigan would say, we have come to live with them, the were settled democratically, people agreed, the legislature passed them, the for signed them. we had elections afterwards. what laws would be overturned? >> there are two laws in particular that they're concerned about. one is the so-called 80-20 law which says that taxpayers don't need to pay more than 80% of public employees pension benefits. and the other one is a law basically regarding teachers. the fact that there have been some school reforms that have allowed various merit measures and teacher promotion measures that could also be overturned by this. this is something that michelle rei, the former dc schools chancellor who runs a students first group, is very concerned about and her group made a big ad in michigan to fight this. >> governor rick snyder, the republican in michigan, asked
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union leaders not to put this on the ballot, and he said in return i'll tell business people, don't put a right to work law on the ballot. the business leader agreed. labor put it on the ballot anyway. did snyder get played like a patsy? >> he probably did. michigan is a heavily unionized state. one of the most unionized states in the country with 18% of the work force, they're using michigan here as their test case for this new idea that if they just go on offense, and enswine the right -- enshrine the rights in the constitution. >> if this passes, no more scat -- scott walkers. >> this is a big deal. >> i give the unions credit. they were on the back foot in wisconsin, indiana, mitch daniels took away the paycheck where you automatically, if you're a government employee, your due goes to the unions.
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now you have to choose. you have to -- >> by employee. >> so this is really an attempt to fire wall in michigan and try to push back. >> so, are the business groups sufficiently mobilized here to actually fight back or have they been caught napping and they could lose? >> they could lose. we suggest it would be -- issues coming up in california as well where unions are fighting initiatives to reign them in, public sector unions are the only entrenched lobby in america fighting for big government and the taxes to pay for it. and that's really the bigger battle in michigan, and across the country now. >> if it spreads it will be an empty victory because businesses in states like michigan and ohio, wisconsin, will move out. they'll go down to tennessee, kentucky, south carolina, and texas, leaving those state with nothing but these enormous public debt to the union.
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>> colin, where does this stand electorally now? >> it's extremely close, actually. it's within the margin of error, and this is something that the detroit news said in its recent poll, 43-41. so, this is going to good right down the wire. unions are -- pouring in money. >> national unions are pouring in the dough. in the dough. we have to take one if we want to improve our schools... ... what should we invest in?
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maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this.
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>>. >> paul: time for mitts and misses of the week. dorothy. >> here is a miss to the national geographic channel which is normally a reliable network. that is because they are airing two nights before the election a film about seal team six which manages to enlarge obama's role and cheerleading for obama. they say it's not politicized
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but the damage to the recipe face raising large suspicions was not a good corporate decision. >> probably hit to my hometown of brooklyn. the next week you are going to have return of traditional sports n first time in 50 years, certain baseball team left for the west coast. but until the dodgers come back brooklyn will never be back. >> paul: all right. >> recently the court in washington, d.c. has been strike down federal regulations like securities and exchange commission and epa. it enrages regulators that has an intimidation campaign to get judges appointed to back off doing this kind of stuff. so it's really an ugly scene.
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this a hit for the judges for sticking to the law and not politics. >> paul: steve? >> more signs that government motors just isn't working for taxpayers. obama administration has put five billion of taxpayer money behind the development of an electric car but one of battery companies for these cars went bankrupt. now another major producer looks like it's in financial trouble. we should have a policy in this country that says separation of car and state. >> paul: all right, steve. thanks very much. if you have your own hit or miss and follow us on twitter. that is hit for this week's show. thanks to my panel and all of you watching. i'm paul gigot. we hope to see you right here next week.


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